If you’ve been underwater on your mortgage — owing more than the market value of your house — or live in an area where home values are struggling to recover after the recession, it can be hard to know whether you’ve regained enough equity to make a mortgage refinance work in your favor. “Equity” is just a fancy term to describe the difference between your home’s fair market value and the outstanding balance of your mortgage.
How To Learn If You Have Enough Equity To Refinance
Deborah Kearns, NerdWallet.com
Wed, 04/20/2016 - 2:32pm
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